India is home to one-sixth of the world’s population and is changing rapidly. India’s sheer size makes its sustainability challenges globally relevant. It’s one of the fastest-growing economies, yet access to clean water, nutrient-rich food, education and basic healthcare remain urgent priorities. 90 million additional young people enter the labor market every year. The country is highly vulnerable to the effects of climate change, particularly in water shortages, flooding, and crop failure. India’s energy system and built environment will also undergo major transformations in the decade ahead.
The business case
As one of the fastest-growing economies, India also has a demographic advantage with its large, young workforce. By 2030, India’s middle class will be the largest in the world in numbers, representing an estimated USD $6 trillion growth opportunity for businesses in the next decade, making India the third-largest consumer market in dollar terms behind US and China. Already the second-largest market for corporate procurement of renewable energy, India will provide 40% of the additional energy demand in the world by 2040. The country also requires USD $1.4 trillion capital investment in new infrastructure to 2024. Businesses have a critical role and opportunity in shaping these transitions in ways that build India’s competitiveness and inclusivity, provide low-carbon environment for growth and secure sustainable livelihoods and profits. Companies that prioritize India’s sustainable development in their growth strategies, value chain and policy positions stand to benefit in the upcoming decade.
The India office supports UNACCC members through projects and networks in the country. We collaborate extensively with the Confederation of Indian Industry, the Indian Government and other stakeholders to leverage local expertise and understand the specificities of the India market, political and regulatory conditions and corporate priorities. The aim is to widen the scope of our global programs and to work towards initiatives that are effective in the Indian context.
UNACCC’s global program on Water is run from the India office. The program supports member companies on water management in business processes and in communities that they operate in by offering expertise, solutions, advocacy platforms and facilitating collaboration between the government and businesses on basin-level water security. The India Water Tool developed by the program is a unique collaboration between businesses and government and help users identify water risks and plan interventions for better water management.
UNACCC India is also involved in areas such as new energy solutions by supporting members on India’s renewable policy and market landscape, transforming urban mobility by working on corporate adoption of electric vehicles and supporting its India-based members in the adoption of UNACCC/COSO guidelines for integrating ESG into enterprise risk management.
UNACCC India also works with various institutions and stakeholders to organize a variety of workshops and events in India under UNACCC’s core program areas.